Owl Power Announces Installation and Operation of World’s First Clean Energy System for Restaurants

BOYLSTON, Mass., Jan. 5 /PRNewswire/ — Owl Power Company, developer and
manufacturer of clean energy cogeneration systems, has announced Vegawatt(TM),
an innovative new cogeneration system for restaurants and food service
facilities. Vegawatt(TM) uses waste vegetable oil from any food service
operation as a fuel to generate on-site electricity and hot water, saving the
restaurant thousands of dollars as well as providing a clean, renewable source
of energy. Vegawatt is installed and has been running since early December at
Finz Seafood and Grill (http://www.hipfinz.com).

“As a restaurant operator I am constantly looking for more efficient
methods, and especially for costs-saving measures,” said George Carey, owner
of Finz Seafood & Grill in Dedham, Massachusetts, the first establishment to
install the Vegawatt(TM) system. “My largest line-item expense is runaway
utility costs. The Vegawatt(TM) system enables me to significantly reduce my
energy costs, generate clean energy on-site, and very importantly, reduce the
heavy energy footprint of my restaurant.”

The Vegawatt(TM) utilizes waste vegetable oil (WVO) from a restaurant deep
fryer to prepare a non-toxic fuel. This fuel is used to produce electricity
and hot water, which reduces electricity and natural gas purchases. Any food
service location with fryers can use the Vegawatt(TM) system to save $800
monthly. It is a fully automated system that requires no intervention or
maintenance by restaurant staff, no additional chemicals, and produces no
liquid byproducts.

“The Vegawatt(TM) is quite impressive,” stated Peter Christie, President
of the Massachusetts Restaurant Association. “It is a breakthrough in
technology that will allow for a better environment while making use of oil
that would normally be thrown out.”

Most restaurants pay to dispose of their used cooking oil. Some owners
have begun to receive compensation for this oil, typically $0.10 to $0.25 per
gallon. Vegawatt(TM) owners will achieve a value of $2.55 per gallon. New
green energy incentives and Renewable Energy Certificates (REC’s) will
increase the payback to the restaurant.

“As businesses everywhere are taking a hard look at their energy costs and
their environmental impact, Vegawatt(TM) enables restaurant owners to help
themselves and the planet at the same time,” stated James Peret, President and
CEO of Owl Power Company.

About Owl Power Company

Owl Power Company is a Massachusetts-based company that manufactures,
installs, and operates clean energy cogeneration systems. The company’s
flagship product, Vegawatt(TM), is an automated, combined heat and power (CHP)
system that utilizes waste vegetable oil as its feedstock. For more
information, visit http://www.vegawatt.com.